There are a lot of students, or prospective students who get admissions in the top universities but remain unable to continue their education due to lack of financial resources.
So, the Human Resource Development ministry or the HRD ministry, after receiving feedbacks from a number of students regarding the difficulties in procurement of the loans, has decided to take steps towards assisting such students.
Already, the ministry mentioned that students would be able to get interest free loans under the "Vidyalakshmi" scheme.
Also, the ministry is looking forward to work on a proposal for a fund which would take care of the interest component and allow students to procure interest free loans.
The problem was not that big earlier, however, it has increased after the IIT raised fees for the students who are going to pursue their education from this session.